ZCCM-IH Bets on Long-Term Growth Despite 2025 Loss as Copper Investments Gain Momentum
ZCCM-IH Posts 2025 Loss as Strategic Investments Position Company for Future Growth
ZCCM Investments Holdings Plc says its 2025 financial results reflect a strategic investment phase designed to position the company for long-term growth, despite reporting a net loss after a record profit in 2024.
The company posted a provisional net loss of ZMW2.79 billion (US$110.7 million) for the year ended December 31, 2025, compared with a record ZMW39.85 billion (US$1.52 billion) profit the previous year.
ZCCM-IH said the 2024 result was boosted by a once-off gain from the Mopani strategic equity partnership, making the 2025 performance more reflective of its core business.
At company level, performance improved significantly, with the loss narrowing by 73% to ZMW1.18 billion, supported by a 40% increase in investment income.
The growth was driven by higher royalty payments from Kansanshi Mining Plc following the commissioning of its S3 Expansion Project, which helped the mine produce 170,929 tonnes of copper its highest output since 2021.
Chief Executive Officer Kakenenwa Muyangwa said 2025 was focused on building the foundation for the company’s next phase of growth through investments in mining, energy and new minerals.
The company continued advancing major copper projects, including the recapitalisation of Mopani Copper Mines Plc and Konkola Copper Mines Plc, while also expanding its energy portfolio through investments in solar and thermal power projects. During the year, ZCCM-IH also entered the gold sector through its acquisition of a majority stake in Kyalo Goldfields.
The company strengthened its balance sheet by fully repaying a US$150 million legacy loan owed to Glencore in April 2026.
It also said a long-running arbitration involving Trafigura Pte Limited is being resolved, with any settlement expected to be fully recoverable from Konkola Copper Mines under an existing reimbursement agreement.
Looking ahead, ZCCM-IH says it is well positioned to benefit from growing global demand for copper, supported by a stronger balance sheet, expanding mining operations and a more diversified investment portfolio spanning mining, energy and industrial minerals.
